JCY HDD Technology Sdn Bhd to acquire land in Penang for RM23 million

JCY HDD Technology Sdn Bhd to acquire land in Penang for RM23 million

KUALA LUMPUR, Feb 2 — JCY International Bhd’s wholly-owned unit, JCY HDD Technology Sdn Bhd, has signed a sales and purchase agreement with PCA Mahlin Technology Sdn Bhd to aquire a piece of leasehold land worth RM23 million in Seberang Perai Tengah, Penang.

In a filing to Bursa Malaysia today, JCY said barring unforeseen circumstances, the acquisition of the 1.62 hectares was expected to be completed by the first quarter of calendar year 2016.

It said the acquisition will not have any effect on the issued and paid-up share capital of the company, as well as on the substantial shareholders’ shareholdings.

“It is also not expected to have any material effect on the earnings per share, net assets per share and gearing of JCY for the financial year ending September 30, 2016.

“Other than the transactional risk pertaining to the acquisition, the board of directors does not foresee any other significant risk arising from the acquisition,” it said.

— BERNAMA

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